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Buckingham Apartments

Redwood City, CA

Off-market opportunity to acquire a 48-unit apartment community located on the San Francisco peninsula in Redwood City, CA. The seller was extremely motivated to sell this property at a discount, as he had already found an up-leg on an exchange. There has been some basic renovation at the property and the most recent rents are substantially more than the average in-place. Along with its clear and substantial upside, the property is well located in Redwood City, a new epicenter for employment as powerhouse tech employees such as Oracle, Box.com, Facebook, and Google have situated offices in the area.

  • No. of Units: 48
  • Acquisition Date: July 2016
  • Acquisition Price: $15,000,000
  • Renovation Costs: $968,000
  • Projected Project Level IRR: 24.09%
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